While Learn Forex Live is a course to teach how to trade Forex using PRICE ACTION, Hector DeVille has some Advanced Indicators he uses to get an unfair advantage. These two indicators are a great help when looking for a currency pair to trade, the best time frame or to make sure price is trending for the best results. (While these indicators are designed for use with the price action trading Hector teaches… ANY trading system can benefit by their use!)
Let’s take a look at these two Advanced Forex Indicators…
Everybody know “the trend is your friend”, right? (Well, of course until it ends). Most traders would agree that trading with the trend is lower risk than counter trend trading. And there are many trading systems that rely on a trending market to be profitable. But the problem is… how can you know which currency pair and which time frame is trending so you can apply your trading system?
That is where the Trend Indicator comes in.
At a glance you can see if the currency pair you are stalking is trending, which way it is trending and on what time frame it is trending. Or, you can simply use the Trend Scanner to find the currency pair you want to apply your trading system to for the best possibility of success. This is going to keep your trend trading strategy out of choppy markets where your profits are eaten up!
I’m sure you can see how powerful this is, right? Hector has made a video showing you how to use this indicator…
Click Here To Watch The Trend Indicator Video
The Forex Currency Index Indicator is very powerful. It can tell you at a glance the strength and weakness of different currencies and on which time frame. Can you imagine what you can do with this information?
Let’s say you know the USD is strong (+5) and the GBP is weak (-5) on the M15 time frame. What do you think you will see when you go to the GBPUSD M15 chart? You should see price going down. So, your best trading opportunity is to look for SHORT entries to exploit the strength of the dollar and the weakness of the pound!
Hector has done a couple of videos explaining this indicator and how you can use it to improve your chances of placing winning trades. And again, this information is valuable regardless of the trading system you are using!
I think you can tell by now that these Forex Indicators are not your run-of-the-mill indicators. They provide information that gives you a better understanding of the market you are getting ready to trade in… and can help you identify where the best (and less risky), trading opportunities are. Just think of the possibilities!
Click Here To Learn More About The Forex Trend Scanner And Currency Index Indicators
Regardless of whether you are using the price action trading strategies or a different trading system… these two indicators can give you the EDGE you’ve been looking for!
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